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TNT Convinced UPS Deal Will Go Ahead

--UPS expects deal to close in fourth quarter --Company says close will come quickly after EC probe completed --TNT calls deal certainty "extremely high" AMSTERDAM--United Parcel Service Inc.'s (UPS) planned acquisition of TNT Express NV (TNTEY, TNTE.AE) is on track to win approval from European regulators in the fourth quarter, executives of both companies contend. In July, competition officials at the European Commission opened an in-depth probe into the planned 5.16 billion euro ($6.41 billion) acquisition of the Dutch package shipper by UPS. Regulators said they needed more time to review the merger amid potential competition concerns in the markets for small parcel delivery services--in particular international express services--in numerous European member states. "We're absolutely convinced the deal with UPS will go ahead," TNT Express Supervisory Board Chairman Antony Burgmans said Monday, adding the antitrust review by the EC, the European Union's executive arm, was progressing according to expectations. UPS executives said in an interview with Dow Jones Newswires last week and in a regulatory filing Friday that they expect the deal, first announced in March, to close in the fourth quarter. "That it would be complex in Brussels is what we, as well as UPS, had expected," Mr. Burgmans said Monday. But "we believe that we have put together a transaction with UPS for which the deal certainty is extremely high." UPS initially said it expected to secure regulatory approval following a first-phase review by the EC, which would have enabled it to close in the third quarter. But the opening of the second-stage probe means regulatory clearance has pushed the potential closing into the fourth quarter. The second-stage review isn't set to be completed until Dec. 12, after regulators extended a Nov. 28 deadline by 10 working days. UPS spokesman Norman Black said last week the deal is on track to close quickly after the review is completed. He said the 10-day extension stemmed from a request for "administrative convenience" from regulators, rather than a need for extra scrutiny, and both UPS and TNT agreed to it. Write to Robin van Daalen at robin.vandaalen@dowjones.com and Bob Sechler at bob.sechler@dowjones.com Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stock News for Ups (UPS)
DateTimeHeadline
07/29/201614:09:00UPS Profits Rise on E-Commerce Growth -- Update
07/29/201609:00:00UPS Profits Rise on Higher Shipments
07/29/201608:47:00UPS Profits Rise on Higher Shipments
07/29/201607:58:41Current Report Filing (8-k)
07/29/201607:45:00UPS Reports Strong 2Q Results
07/27/201615:30:00DHL to Expand U.S. E-Commerce Operations
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07/18/201613:11:00UPS Worldwide Express™ Package Service Helps Businesses Deliver U...
07/18/201610:00:00UPS Worldwide Express Package Service Helps Businesses Deliver...
07/18/201609:00:00UPS to Release 2nd Quarter Results on Friday, July 29, 2015
07/13/201613:15:00Special Olympics Georgia Receives $90,000 Grant from The UPS...
07/08/201608:50:00World Trade Organization Introduces Global Trade Indicator
07/05/201609:00:00UPS Expands Clinical Trial Logistics Capabilities To Support...
07/01/201611:10:00Honeywell to Buy Intelligrated, Boosting Automation Portfolio
07/01/201603:03:00Business Watch -- WSJ
06/30/201614:20:00UPS Adds Locker Locations for Shipment Pickups
06/30/201614:04:00UPS Adds Locker Locations for Shipment Pickups
06/30/201613:30:00UPS, Pilots Agree to New Tentative Five-Year Labor Contract
06/30/201613:25:00UPS, Pilots Agree to New Tentative Five-Year Labor Contract
06/30/201613:00:00UPS Access Point Locker Program Expanded To Help Online Retailers...

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